Ponzi scheme
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When you are inside, you are hard-presed and unable to think. But when you are out of the bubble, it’s illuminating. You are able to look back, to gain perspectives. Bubble by definition is that which encompasses those who subscribe to its rules (deposit here, withdraw there). We got the Tulip mania in Holland, Ponzi…
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that manipulate interest rates, oil price, appropriate and earmark budgets for the commons. Adam Smith must be talking about the abstract “invisible hand” of a free market, while in reality, we all feel there are levers behind the scene with successive hands, tinkling and adjusting. Some are automated, by self-improving algorithms. One example of the…
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The Economist Christmas Special was about America, a Ponzi scheme that works. http://www.economist.com/world/unitedstates/displayStory.cfm?story_id=15108634&source=hptextfeature It projects 1 Billion Americans by 2100. With its many niches, America seems to offer a bit of everything, for everybody: hunting, boozing, gambling, church-going and freedom to protest. I remember my first Christmas, living humbly in a cold basement. But I…
Thang Nguyen 555 